GCF plays vital role in mobilizing finance for climate action: Mohieldin

Ahram Online , Thursday 13 Jul 2023

The second replenishment process (GCF-2) of the Green Climate Fund (GCF) is gaining momentum among potential contributors and beneficiaries alike, said Mahmoud Mohieldin, the UN Climate Change High-Level Champion for Egypt and UN Special Envoy on Financing 2030 Sustainable Development Agenda.



As the Replenishment Facilitator of the GCF, Mohieldin highlighted the increasing attention given to this UNFCCC financial mechanism, designed to support low-emission projects, as a crucial process for mobilizing finance for climate action globally.

During the 36th GCF board meeting held in South Korea, he noted the commitment expressed by several European countries to contribute to the fund's replenishment process, acknowledging its significance in driving climate finance.

This demonstration of dedication reflects these countries' commitment to global climate action and multilateralism, indicated a statement by Mohieldin's media office.

According to the statement, the second consultative meeting of the GCF-2 in April witnessed in-depth and intensive discussions among participants regarding the policy of contributions.

Mohieldin further mentioned "fruitful discussions" with officials from a number of institutions and multilateral development banks, including the Islamic Development Bank, on development partnerships and cooperation with the private sector.

The statement highlighted Mohieldin's meetings with COP28 UAE officials to discuss ways of strengthening climate finance as well as his advocacy for the replenishment of the Green Climate Fund during various events, including the spring meetings of the IMF and WB, the Bonn Climate Conference, and the Paris Summit for a New Global Financial Pact. 

As he continues to participate in regional and international events, he plans to further promote the process and encourage countries that have the capacity to contribute to do so. Simultaneously, he intends to identify the most needy countries that can benefit from the fund's assistance.

He noted that during this year's UN General Assembly, the GCF-2 will be a major focus, with numerous countries declaring their commitments and pledges to climate action.

Mohieldin expressed confidence in the Green Climate Fund's significant and unique role in financing global climate action.

He emphasized that this role can be optimized through regional presence, enhancing the positive socioeconomic impact of climate action, increasing cooperation and partnerships with the private sector, and improving communication with stakeholders, actors, and potential partners.


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